Latest news with #Authority
Daily News Egypt
19 hours ago
- Business
- Daily News Egypt
SCZONE chief discusses strengthening maritime, logistics cooperation with Panama
Waleid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), met with Ricardo Icaza, Ambassador of Panama to Egypt, on Tuesday at the SCZONE headquarters in the New Administrative Capital. The meeting focused on deepening cooperation in maritime transport, logistics, and targeted industrial sectors. Gamal El-Din emphasized that the discussions align with SCZONE's ongoing efforts to expand its international partnerships and open new markets. He added that this strategic approach supports the Authority's integration across various industries and supply chain networks. Strengthening economic and investment ties with Latin American countries, especially Panama, was highlighted as a key priority. Further, Gamal El-Din underlined the investment opportunities within SCZONE and the region's competitive advantages, such as its prime location, cutting-edge infrastructure, and seamless integration between ports and industrial zones. He also stressed the importance of cooperation in key sectors, particularly maritime and logistics, given their central role in positioning the SCZONE as a global trade and logistics hub. Ambassador Ricardo Icaza reiterated Panama's eagerness to enhance cooperation with SCZONE. He highlighted the shared significance of the Panama Canal and the Suez Canal Economic Zone as vital trade corridors, emphasizing their potential to serve as a model for global supply chain integration. This meeting is part of SCZONE's ongoing promotional efforts with diplomatic missions, international companies, and institutions to showcase investment opportunities and foster strategic partnerships in targeted sectors.
Observer
19 hours ago
- Business
- Observer
OPAZ named Best Service Outlet in Muscat Governorate for 2024
BUSINESS REPORTER MUSCAT, JULY 29 For the second year in a row, the Public Authority for Special Economic Zones and Free Zones (OPAZ) has won the award for Best Service Outlet in Muscat Governorate for the year 2024. The award is conferred upon government entities participating in the Institutional Excellence System, in recognition of the Authority's continuous efforts to enhance service quality and strengthen its position in global competitiveness indicators. Dr Ahmed bin Saif al Ma'amari, Acting Customer Services Manager Department at the Authority, stated: "This honour reflects the Authority's commitment to implementing the standards of the Institutional Excellence System, which is one of the key pillars for achieving the goals of Oman Vision 2040. It also reinforces a culture of continuous improvement in the work environment to ensure the delivery of high-quality and efficient services that meet the expectations of investors and beneficiaries." The selection of the Authority was based on the results of surveys and indicators measuring client satisfaction. OPAZ affirms its ongoing efforts to enhance institutional excellence, adopt best practices in service delivery, and achieve top performance levels through innovation and continuous improvement. OPAZ implements high-efficiency practices to serve investors in the special economic zones, free zones, and industrial cities, including: Integrated service representatives, A one-stop platform for all services, continuous care service for investors, strategic project account supervisors, continuous service improvement, comprehensive approvals for strategic projects, fast and defined timelines for request processing, an interactive communication centre, instant approvals to start projects.
Time of India
a day ago
- Business
- Time of India
One-time scheme for allottees, flood relief project & more get GNIDA nod
Noida: Greater Noida Industrial Development Authority (GNIDA) approved proposals for improving civic infrastructure and providing relief to flat allottees, among others, during its 140th board meeting on Monday. Several initiatives impacting flat buyers, flood management, and airport security accommodation were discussed at the meeting, which was chaired by UP chief secretary and GNIDA chairman Manoj Kumar Singh. Among the schemes approved was a One-Time Settlement (OTS) scheme to provide relief to allottees of multi-storey flats ranging from EWS (Economically Weaker Sections) to flats measuring up to 121 square metres. Officials said that this scheme is expected to benefit around 2,000 flat buyers, many of whom were unable to execute their lease deeds due to the burden of outstanding premiums and late fees. Under the OTS, the Authority will offer waivers or concessions on interest charged on the unpaid premium and penalties for delay in lease deed execution. The scheme will remain open for applicants until Dec 31. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida Officials said that the implementation of this scheme will not only provide much-needed relief to flat buyers but also help the Authority clear long-pending cases and formalise property ownership for hundreds of residents. GNIDA's property department will soon issue an official order with detailed guidelines and implementation dates. The board also approved the construction of a regulator on the Aimanabad Bandh to protect Greater Noida from possible flooding caused by the Hindon River during the monsoon. The regulator will help prevent floodwater from entering city areas and also protect vulnerable regions near the Bisrakh drain from erosion. The irrigation department has been tasked with constructing the regulator, while GNIDA will bear the entire cost of Rs 10.56 crore. The Authority will release the funds shortly so the department can begin the tendering and construction process, officials said. A proposal to provide accommodation to Central Industrial Security Force (CISF) personnel assigned to guard the upcoming Noida International Airport on rent was also approved at the meeting. A total of 467 vacant flats in Sector Omicron 1A, belonging to the MIG and LIG categories, will be handed over for use by the CISF. This initiative is expected to ensure better housing facilities and logistical ease for the deployed personnel.
Arab Times
a day ago
- Business
- Arab Times
CMA outlines rules for investment dealings with 'former Kuwaiti citizens'
KUWAIT CITY, July 29: The Capital Markets Authority (CMA) has issued Circular No. 20 of 2025, outlining key regulations for dealing with individuals whose Kuwaiti citizenship has been revoked under the "Noble work" clause of Article 5 of Amiri Decree No. 15 of 1959, which governs the Kuwaiti Nationality Law. The circular, addressed to all licensed entities and authorized persons, follows the Ministry of Interior's statement issued on July 10, which detailed the legal status, residency rules, and restricted rights applicable to those affected by this category of citizenship revocation. According to the CMA, the objective of the circular is to ensure full compliance with the legal and regulatory frameworks that govern the treatment of such individuals, particularly within the investment and financial sectors. The Authority emphasized the importance of adjusting internal policies accordingly to avoid violations. Key regulatory measures The circular highlighted main controls that authorized entities must follow: Revoked Individuals Not Considered Kuwaitis: Anyone whose citizenship has been withdrawn under the 'Noble work' clause will no longer be considered a Kuwaiti citizen to implement CMA laws and regulations. Such individuals will also lose eligibility for rights and benefits granted to Kuwaiti citizens once the grace period granted by the Ministry of Interior expires. Verification of Legal Status: All authorized persons must verify the legal status and valid residency of clients affected by the Amiri Decree. This includes examining official documents confirming their status post-citizenship revocation. For decrees issued before July 20, 2025, the four-month grace period begins from that date. For future cases, the grace period will begin from the date of issuance of each new revocation decree. Review and Update of Client Records:: In the case of existing investment transactions or business relationships with affected individuals, their legal status must be reviewed and updated to ensure alignment with current legal and regulatory frameworks during the status adjustment period. Additionally, the CMA advised that if any licensed person seeks official clarification on a client's status, they should contact the Article Eight Affairs Office at the Ministry of Interior, which is the competent authority responsible for determining applicable benefits and procedures in these cases. The Authority stressed the necessity for full adherence to applicable legislation and related decrees concerning citizenship revocation. It urged licensed firms and individuals to revise their internal compliance policies to avoid unauthorized dealings or regulatory breaches. This move reflects Kuwait's broader efforts to ensure legal clarity and institutional alignment in handling sensitive nationality-related cases within the country's financial and investment sectors.
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Egypt, Singapore explore cooperation on digital transformation of ports
Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), met with Ambassador of Singapore to Cairo, Dominic Goh, on Monday at the SCZONE headquarters in the New Administrative Capital. The meeting focused on strengthening bilateral ties and exploring investment opportunities within the SCZONE, with particular emphasis on its industrial, logistics zones, and affiliated seaports. During the discussion, Gamal El-Din outlined the numerous investment opportunities available through the SCZONE's strategic vision, which includes 21 diversified industrial and logistics sectors. He emphasized that the integration of ports and industrial zones plays a crucial role in linking manufacturing processes with global markets, especially given the Authority's ownership of six ports located on both the Mediterranean and Red Seas. Gamal El-Din expressed the SCZONE's keen interest in collaborating with Singaporean institutions and companies in several key sectors. He noted that ongoing consultations with Singapore Cooperation Enterprise (SCE) are focused on transferring Singapore's advanced expertise in port management and operations. The collaboration aims to incorporate the latest smart port technologies, which are pivotal in the SCZONE's digital transformation strategy for ports. The Chairperson further highlighted that this partnership is critical for supporting the implementation of the Authority's digital transformation initiatives, which aim to improve governance, enhance operational efficiency, and increase cargo handling capabilities at SCZONE ports.
